61.8 F
New York
Wednesday, May 18, 2022

MicroStrategy Decides to Sell $1B Stock With Plans To Buy More Bitcoin With Profit

Must read

Shares of MicroStrategy Incorporated [NASDAQ: MSTR] skyrocketed 5.36% on Wednesday after the firm disclosed that it has decided to dump $1 billion worth of its shares. The firm is planning to use the profit from the stock offering to buy even more Bitcoin.

Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .


The firm has not made it clear how much of the profit it will use for the purchase of Bitcoin. In a filing with SEC, MSTR explained that the management will hold broad options over the distribution of the net profit of any offering. The declaration of this stock offering comes just after the firm finalized a $500 million junk bond sale for the purpose of purchasing even more Bitcoin.

Shares of MicroStrategy Incorporated have gained +32.05 during the trading session of Wednesday. In addition to this, CEO Michael Saylor is one of the most optimistic Bitcoin advocates in the industry. He also encouraged Tesla Inc (NASDAQ: TSLA) CEO Elon Musk to purchase Bitcoin.

MicroStrategy has been determinedly purchasing Bitcoin since August last year. The firm has also taken on debt multiple times to finance its buying. Due to MicroStrategy’s huge buying of Bitcoin, the stock of MSTR has become a popular substitute for investors. Through the firm’s holdings, they want to get an experience of Bitcoin without acquiring BTC itself.

More articles

Latest article